Greece: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Greece

The Greek electrical circuit apparatus market soared to $X in 2021, jumping by 46% against the previous year. Over the period under review, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.7% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electrical Circuit Apparatus Production in Greece

In value terms, electrical circuit apparatus production fell to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2020 with an increase of 6.4% against the previous year. Electrical circuit apparatus production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Electrical Circuit Apparatus Exports

Exports from Greece

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection decreased by -5.7% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +64.9% against 2016 indices. The pace of growth appeared the most rapid in 2018 when exports increased by 23% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020, and then declined in the following year.

In value terms, electrical circuit apparatus exports soared to $X in 2021. In general, exports, however, enjoyed a perceptible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons), Cyprus (X tons) and Germany (X tons) were the main destinations of electrical circuit apparatus exports from Greece, together comprising 60% of total exports. These countries were followed by the United States, Hungary, Romania, Spain, Bulgaria, Italy and Belgium, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +49.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for electrical circuit apparatus exports from Greece, comprising 45% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with an 11% share of total exports. It was followed by Cyprus, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+23.5% per year) and Cyprus (+22.1% per year).

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per ton in 2021, surging by 66% against the previous year. In general, the export price posted a slight increase. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Greece

In 2021, imports of electrical apparatus for circuit connection, switching and protection into Greece skyrocketed to X tons, jumping by 23% on 2020 figures. In general, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.3% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, electrical circuit apparatus imports soared to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +97.2% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of electrical circuit apparatus imports to Greece, with a combined 51% share of total imports. France, Hungary, India, Turkey, South Korea, the Czech Republic, Poland, the Netherlands and Spain lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +47.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) appeared to be the largest electrical circuit apparatus suppliers to Greece, together accounting for 44% of total imports. Hungary, China, the Netherlands, South Korea, India, Turkey, the Czech Republic, Poland and Spain lagged somewhat behind, together comprising a further 39%.

In terms of the main suppliers, India, with a CAGR of +51.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, rising by 5.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2019 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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